MoneyGram Partners with City Express to Offer Customers More Convenient Locations in Nepal

The tie-up provides migrant workers year round facilities with extended working hours to receive money

KATHMANDU, Nepal, Aug. 11, 2016 /PRNewswire/ — MoneyGram, (NASDAQ: MGI), announced today it is expanding its reach in Nepal with the addition of City Express money transfer pvt ltd, a Nepal based payment services company. This is critical as it increases the choices for its consumers that need to pick up money sent by their families and friends who are working abroad.

“MoneyGram is committed to making its services easy and convenient for all of its customers in Nepal and the thousands of expats that remit money back home,” says Sheshagiri Malliah, MoneyGram’s Regional Director, South Asia. “By partnering with City Express, our customers in Nepal will have more choices & extended working hours, benefiting especially for transfers from the Middle East.”

Speaking on the occasion, City Express Managing Director, Mr. Chandra Tandan said: “We are excited to partner with MoneyGram, one of the largest money transfer companies in the world with a strong brand presence in Nepal and serving the diaspora around the globe. We are sure that this partnership will enhance the money transfer services in Nepal and give better service to the customer base.”

The agreement increases MoneyGram’s footprint and further strengthens the position of MoneyGram in Nepal.

According to the World Bank, about $5.8 billion in remittances flowed into Nepal in 2015. An estimated $1.68 billion was sent from Qatar and $1.60 billion from Saudi Arabia. Other key send corridors to Nepal include United Arab Emirates, United States, Kuwait & Malaysia.

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About MoneyGram International, Inc.MoneyGram, a leading money transfer company, provides essential services to consumers who are not fully served by traditional financial institutions. MoneyGram offers worldwide money transfer services in more than 200 countries and territories through a global network of 350,000 agent locations, including retailers, international post offices and banks. MoneyGram also offers bill payment services, issues money orders and processes official checks in select markets. More information about MoneyGram International, Inc. is available at moneygram.com

About City Express Money TransferOne of the leading money transfer company based in Nepal to provide money transfer service to the Nepalese community from urban to remote area. In addition, City Express having the inward remittance arrangement from, Japan, Saudi Arabia, Qatar, Malaysia and around the world. Further information about City Express, please visit: ctxpress.com.